Legal & General Group Plc reduced its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,478 shares of the financial services provider’s stock after selling 231 shares during the period. Legal & General Group Plc’s holdings in Pacific Premier Bancorp were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1st Global Advisors Inc. purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $553,000. Virginia Retirement Systems ET AL purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $204,000. First Foundation Advisors purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $267,000. Acrospire Investment Management LLC purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $109,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Pacific Premier Bancorp Inc (PPBI) opened at 35.90 on Thursday. Pacific Premier Bancorp Inc has a 1-year low of $24.00 and a 1-year high of $41.90. The firm’s 50-day moving average price is $36.44 and its 200 day moving average price is $37.20. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 24.90 and a beta of 0.72.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.12. Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. The business had revenue of $72.10 million for the quarter, compared to analyst estimates of $68.18 million. During the same period last year, the firm posted $0.38 EPS. On average, analysts predict that Pacific Premier Bancorp Inc will post $1.68 EPS for the current year.

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A number of research analysts recently commented on the company. Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. BidaskClub lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, FBR & Co upgraded Pacific Premier Bancorp from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $44.00 in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.75.

In other news, Director Simone Lagomarsino sold 6,250 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $36.25, for a total transaction of $226,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 18,750 shares of company stock valued at $684,688 in the last three months. 4.59% of the stock is owned by insiders.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.

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Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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